The Russell Family Foundation has announced impact investments and grants totaling more than $15 million.
The investments include $5 million to Ownership Capital, a mid-cap equity manager pursuing deep ESG (environmental, social, and corporate governance) shareholder engagement; $3.5 million to Marcho Partners, which invests in growth companies delivering positive technology-led social change outside the United States and China; and $6 million to the Global Impact Access Partnership II, which invests in private equity and venture capital strategies focused on environmental sustainability and socio-economic development. With its most recent investments, the foundation’s portfolio is now 90 percent mission aligned.
TRFF Senior Program Officer, Holly Powers said, “The COVID-19 pandemic has affected nonprofits in ways we could have never imagined. From staffing reductions, to changes in established programming, to gaps in donor support, our grantees are facing challenges that will persist for many months to come. It is important that TRFF provide dynamic support to community organizations during this time so that we can sustain our community partners who are working on the frontlines of environmental and social issues.”
The foundation also awarded COVID relief grants totaling nearly $300,000 to forty-four organizations, including a grant of $25,000 to help seed a campaign sponsored by Comprehensive Life Resources aimed at preventing and ending homelessness among youths and young adults in Pierce County, and a grant of $50,000 to Forterra NW in support of the Forterra Strong Communities Fund Hilltop Rite-Aid project, as well as grants totaling $175,000 to six nonprofits working to address food insecurity in Pierce, Kitsap, Thurston, and Mason counties.